May 2, 2016
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When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Refinance Now with Lendingtree! Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Best Mortgage Refinance Companies
  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for? has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.


Mortgage Refinance Reviews

5 stars
Lending Tree

LENDING Best-In-Class Blue Ribbon Award

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More... Visit

4 stars
Quicken Loans


Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans. Read More... Visit

3 stars
The Easy Loan Site


The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit

3 stars
Loan App


In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More... Visit

2 stars
Rate Marketplace


Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list. Read More... Visit

1.5 stars
Mortgage Search 123


Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit

1 star
Lower My Bills


Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information. Read More... Visit

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.




I'm being quoted a 4.375 interest rate on my mortgage refinance, is that the best rate I can expect?

I'm refinancing my FHA $203,000 mortgage with 700/680 credit scores. The home is currently worth $170,000 and will be worth $190,000 after some improvements I plan to make. I will be doing $35,000 worth of work.

Published:  Thu, 28 Apr 2016 08:36:00 GMT

3 Companies with Low Mortgage Refinance Rates

With mortgage rates still hovering near record lows, many homebuyers can benefit from refinancing their current mortgages into new ones with lower rates or more attractive terms. If you are paying more than the current market interest rate on your mortgage ...

Published:  Tue, 26 Apr 2016 03:48:00 GMT

NMRC Appoints Board's Chairman, Independent Directors

The Nigeria Mortgage Refinance Company (NMRC) has appointed four independent Directors to serve on its Board, in line with its commitment to adopting international best practices in corporate governance. Those appointed include Professor Charles Okeahalam ...

Published:  Tue, 26 Apr 2016 07:06:00 GMT

Do you have enough equity to refinance? Here's how to tell

it can be hard to know whether you've regained enough equity to make a mortgage refinance work in your favor. "Equity" is just a fancy term to describe the difference between your home's fair market value and the outstanding balance of your mortgage.

Published:  Wed, 27 Apr 2016 11:41:00 GMT

Are Copyright Shares to Songs by Destiny's Child and Lady Gaga About to Be Auctioned?

He makes the argument that there was no "mutual assent" on key terms, including "when the $450,000 Mortgage refinance could be completed." If a contract was formed, the attorney argues it must be voided as a "mutual mistake." Separately, Sony/ATV also ...

Published:  Wed, 27 Apr 2016 13:12:00 GMT

NMRC strengthens corporate governance, appoints Okeahalam board chairman

In line with its commitment to international best practices in corporate governance, the Nigeria Mortgage Refinance Company (NMRC) has appointed Charles Okeahalam chairman of its Board of Directors. He takes over from Herbert Wigwe who had been serving as ...

Published:  Tue, 26 Apr 2016 11:17:00 GMT

Mortgages tiptoe up as homebuying season starts

Homebuyers might want to keep a close eye on mortgage interest rates. RATE SEARCH: Shop today for a mortgage refinance. Recently, rates have "inched up just a bit," says Justin Lopatin, vice president of residential banking for PERL Mortgage in Chicago.

Published:  Thu, 28 Apr 2016 03:08:00 GMT

"Ours is economic housing, not social'

The primary mortgage banks will have to go for refinancing. We are already working with the Nigerian Mortgage Refinance Company (NMRC); we are looking at the MoU and others before we finalise. In all of these, how does this key into social housing?

Published:  Wed, 27 Apr 2016 17:18:00 GMT

4 Tax Credits and Other Ways to Save When Buying a Miami Home

If both of these options are still too expensive, then you can refinance your home through Power Financial CU's Power Xpress First Mortgage Refinance. This allows you to drop the PMI, as long as you only need a loan for 85 percent of the home's value.

Published:  Sat, 23 Apr 2016 01:59:00 GMT




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